194 Church Street
Poughkeepsie,
NY
12601
50 Academy Street, Poughkeepsie, NY 12601Price: $2, 900, 000 4-Unit Apartment Building Redevelopment OpportunityLocated in the heart of Poughkeepsie’s rapidly growing Innovation District, 50 Academy Street offers an exceptional mixed-use redevelopment opportunity. This 4-unit, 2-story, 2, 800-square-foot apartment building sits on 1.11 acres across 11 parcels, making it one of the largest assemblages available in downtown Poughkeepsie. With its strategic location, flexible zoning, and strong demand for residential rentals, this property is ideal for developers seeking to capitalize on Poughkeepsie’s continued growth and revitalization.Zoning & Development PotentialThe property is zoned PID-B (Poughkeepsie Innovation District B) and MU-5 (Mixed-Use 5), offering high-density residential and commercial development potential.PID-B Zoning: Allows up to 9 stories (120 ft) with affordable housing inclusionMU-5 Zoning: Allows up to 7 stories (94 ft) with affordable housing inclusionPermitted Uses: Multifamily residential, retail, office, hospitality, medical, live-work housing, student housing, performing arts, and food serviceNo Historic Restrictions: The property is not located within a City Historic DistrictSeveral conceptual massing studies by Tinkelman Architecture demonstrate the site’s potential:Option A: 35 residential units / 26 parking spacesOption B: 55 residential units / 28 parking spacesOption C: 76 residential units / 52 parking spacesOption D: 116 residential units / 49 parking spacesThis flexibility makes it ideal for mixed-use, multifamily, or residential redevelopment.Parking & IncentivesThe site offers on-site parking design flexibility, including the potential for a Planning Board waiver or fee-in-lieu of parking. Additionally, it is adjacent to a municipal parking lot at 50 Cannon Street, providing 210+ spaces within 50 feet.The City of Poughkeepsie supports development in its Innovation District, creating potential opportunities for incentives and streamlined planning approvals.Prime Downtown LocationCentrally located, 50 Academy Street is within walking distance to:Restaurants, cafés, and boutique shopsArt centers and the historic Barrett Art CenterVassar Brothers Medical Center, a major employer in the areaThe property also offers easy access to major transportation routes, including Route 9, the Mid-Hudson Bridge, and Metro-North Railroad, connecting Poughkeepsie to New York City and surrounding Hudson Valley communities.Investment HighlightsPrime urban infill location in a growing downtown marketHigh-density development as-of-right with significant bonus potentialStrong residential rental demand in Poughkeepsie’s revitalized coreFlexible mixed-use zoning for a variety of income-producing optionsThis is a rare opportunity to acquire a large, strategically located parcel with unmatched redevelopment potential in one of the Hudson Valley’s most dynamic growth markets.
Presented By: K. Fortuna Realty, Inc.
845-632-3492
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